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National Credit Union Service Organization

EDUCATION 1ST CREDIT UNION

Jun, 30, 2021 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 2 branch locations and about $40.14 million in total assets. Opened 89 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,636 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:EDUCATION 1ST CREDIT UNION
Address:
(Main Office)
1250 COUNTRY HILLS DR
OGDEN, UT 84403-2560
Phone:(801) 392-4877
Fax:(801) 392-4879
Website:http://e1cu.org
Branches:2 branch locations
Members:2,636
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67127
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1932
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$40,144,820
CEO/Manager:Kent M Greenfield
Chairperson:Bruce Christensen

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,777,133
TOTAL INVESTMENTS 2,498,832
Loans Held for Sale 0
 
 Real Estate Loans 17,218,558
 Unsecured Loans 1,920,342
 Other Loans 11,532,468
 TOTAL LOANS 30,671,368
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -161,414
 Land And Building 247,482
 Other Fixed Assets 197,216
 NCUSIF Deposit 337,118
 All Other Assets 1,577,085
  TOTAL ASSETS 40,144,820
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 120,151
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,587,556
 Regular shares 16,624,152
 All Other Shares & Deposits 10,741,164
  TOTAL SHARES & DEPOSITS 35,952,872
  TOTAL LIABILITIES 36,073,023
 Regular Reserve 1,186,896
 Other Reserves 0
 Undivided Earnings 2,884,901
  TOTAL EQUITY 4,071,797
  TOTAL LIABILITIES, SHARES, & EQUITY 40,144,820
INCOME & EXPENSE  
 Loan Income 680,417
 Investment Income 20,057
 Other Income 135,932
 Total Employee Compensation & Benefits 388,444
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 275,872
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,500
 Cost of Funds 85,768
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 187,673
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